Manual
Inventory
Inventory keeps how much of each item is where, and what it is worth. Every movement in or out of stock is an item ledger entry, and its value a value entry; together they give the quantity on hand at each location, its value, and the postings to the general ledger.
What moves stock
| Movement | Where it is entered | Item ledger entry type |
|---|---|---|
| Buying | Purchase orders and invoices | Purchase |
| Selling | Sales orders and invoices | Sale |
| Moving between locations | Transfer Orders | Transfer |
| Making products from ingredients | Assembly Orders | Assembly Consumption and Assembly Output |
| Writing off or finding stock | Item Journal | Negative Adjmt. or Positive Adjmt. |
| Counting | Phys. Inventory Journal | Positive Adjmt. or Negative Adjmt. for the difference |
See Item ledger entry types for each in detail.
Important
Stock can’t go below zero at a location. A posting that would take more than is there stops, saying how much is in stock and how much was needed.
Where to find it
In the Accountant’s menu, Inventory Processing has Items, Item Journal, Assembly Orders, Posted Assembly Orders, Transfer Orders, Posted Transfer Shipments, Posted Transfer Receipts, Phys. Inventory Journal, Item Ledger Entries, Value Entries and Phys. Inventory Ledger Entries. Locations, Inventory Setup, Inventory Posting Setup and Units Of Measure are under Setups, and Inventory Posting Groups under Posting Groups.
In this manual
- Items and units of measure: the item card, its units, and the inventory reports.
- Locations and transfers: locations, in-transit locations, and transfer orders.
- Adjusting and counting stock: the item journal and the physical inventory journal.
- Costing and the general ledger: FIFO and Average, item and value entries, and what inventory posts to the general ledger.
Making products from ingredients has a manual of its own: Assembly.